![]() Look, with this data it’s safe to say that if people didn’t see value in their solar battery, they simply wouldn’t buy one. In turn, this will affect the Aussie market, so I would highly advise investing in solar batteries sooner rather than later. I predict that solar batteries are going to keep increasing in price as they go up in demand across the world. The push from Governments worldwide for a more sustainable future has heightened this further. With the surge of demand for cost-effective and eco-friendly solutions, it is driving the market growth. Therefore it is clear that the demand for solar batteries is increasing not only in Australia but worldwide as well. Just think about the savings this will generate for homeowners. Globally, the market size is projected to reach a whopping $360.4 million by 2027. It is not only in Australia where the popularity of solar batteries has risen. Some batteries like Sonnen have already moved to more sustainable materials to manufacture their batteries, which I talk about in my Sonnen review here. Combined with this, the increase in demand for energy independence causes prices to rise.Įither way, many homeowners are still willing to invest in a solar battery because they understand the value it can provide in savings but also energy independence for the future. ![]() ![]() The cost of raw materials, the shortage of semiconductor chips and the covid pandemic are some of the few factors that have contributed to the increase in the price of solar batteries. Unfortunately, it’s totally out of everyone’s control. The same applies for the shipping costs and as the global economy is starting to rise in costs it means that the price of batteries will bear this burden as well. This shows how popular the demand for batteries is and therefore it means that the materials needed such as lithium-ion and cobalt may be in short supply. It was recently announced in 2020 that over 31,000 solar batteries were installed across Australia. So seriously, everyone is being serious when they tell homeowners to invest now. This is evident by the cost of solar battery history and price increases across the industry. So, to put it simply, the longer you wait to get a solar battery, the more it will cost. There is no evidence prices will drop ( unlike solar panels ) which have been steadily declining in cost in recent years. For those who waited for the price of a Powerwall to come down it actually ended up being an expensive mistake. Look, the main point here is that 5 years ago you could get a Tesla for $10k but now it’s increased a lot. This is because the demand is increasing significantly as homeowners move towards a sustainable and renewable lifestyle. But would you believe that in 2017, you could get a Tesla Powerwall for under $10k? The cost of solar batteries is undoubtedly going up, as shown by historical figures. So, yes, the cost of solar batteries is increasing.
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